Question 1

Which trading bloc has the goal to reduce tariffs by 75 percent and achieve full economic integration?

Accepted Answer

Mercosur is the largest trade bloc in Latin America, with five core members with a goal to reduce tariffs by 75 percent and achieve full economic integration.

Question 2

This question has two parts; be sure to answer both. First, define the concept of global economy. Second, explain the three historic global changes, discussed by Rosabeth Moss Kantor of the Harvard Business School, that set the stage for globalization.

Accepted Answer

The answer of This question has two parts; be sure...

Question 3

This question has two parts; be sure to answer both.
First, contrast a multinational corporation and a multinational organization, and explain why a global mind-set is essential in working in a globalized world.
Next, consider these two companies: (1) Voice of the Reader recruits volunteers, often actors and actresses, who read books out loud, in many different languages, so that they can be put onto electronic media, such as CDs. Voice of the Reader then distributes these books for free to blind people across the world. For example, books on CD in French go to France, Canada, and Haiti; books on CD in Spanish go to Spain and many of the countries of South America; books in Portuguese go to Portugal and Brazil. Voice of the Reader does not seek a profit, and it has small recording studios in many countries, where actors read the books out loud. (2) Blazing Glory is a role-playing game that is played with simple cards that look like baseball cards. Each card has a mythical figure, as well as multiple symbols that explain how the game can be played. Because there is no writing on the cards, the market is fully global-no translations or adaptations are required. The company that created Blazing Glory is now manufacturing and selling its cards throughout the developed world, and it has hired game creators in multiple countries, including Brazil, China, and India, to develop games that will appeal to the local markets.
Which of these companies is a multinational corporation, and which is a multinational organization? How do both companies benefit from a global mind-set? Explain.

Accepted Answer

The answer of This question has two parts; be sure...

Question 4

Marco is from the Mediterranean coast of Greece and Forough is from Iran. While visiting their grocery store, you notice that they are helping one customer find an item, another customer checkout, as well as mopping up a spill, and restocking a shelf How would you describe Marco and Forough's use of time?

Accepted Answer

Polychronic time is a preference for doing more than one thing at a time. Monochronic time is a preference for doing one thing at a time.

Question 5

Madeline wants to be the best manager. She knows what it means to manage her staff and she knows the right way to do it. She also wants to be cautious that she does not put herself in the position that it is her way or no way. What type of manager is Madeline aspiring to be?

Accepted Answer

Geocentric managers accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective. Clearly, being an ethno- or polycentric manager takes less work. But the payoff for being a geocentric manager can be far greater.

Question 6

Discuss the purpose of each of these organizations: The World Trade Organization, World Bank, and International Monetary Fund.

Accepted Answer

The answer of Discuss the purpose of each of these...

Question 7

As you prepare to work in a global economy, what will help you to more effectively communicate with and influence others?

Accepted Answer

Context refers to the situational or environmental characteristics that influence our behavior. Understanding context gives you insights that let you correctly interpret the "what" and "why" of someone's behavior. This in turn enables you to more effectively communicate with and influence others.

Question 8

This question has two parts; be sure to answer each one.
First, what was the purpose of the GLOBE project, and what are its nine dimensions?
Second, assume that you are managing a U.S. business that wants to export furniture to Russia, Sweden, or Singapore. Describe how you would use results from the GLOBE project to negotiate a deal to deliver a new line of furniture to distributors in one of these countries.

Accepted Answer

The answer of This question has two parts; be sure...

Question 9

There are many positive effects to globalization, but which of the following would be a negative effect?

Accepted Answer

Negative effects of globalization are more closely tied to individual manager's day-to-day challenges. These include potential threats to information security because data must be shared, possible loss of control over quality and standards because products or components are made hundreds or thousands of miles away, and the risk of hidden or unanticipated costs, especially transportation costs, that can offset some of the savings expected from moving manufacturing to countries with lower labor costs.

Question 10

Qatar earned the rank of first place in terms of gross domestic product because they

Accepted Answer

In terms of gross domestic product per capita (the total value of all goods and services produced in the country divided by the population), the International Monetary Fund's annual ranking for 2017 puts the United States at No. 12 in the world, behind San Marino, Hong Kong, Switzerland, United Arab Emirates, Kuwait, Norway, Ireland, Brunei, Singapore, Luxembourg, and in first place, Qatar. There are many reasons the winners on these lists achieved their status, but one thing is clear: They didn't do it all by themselves; other countries were involved. We are living in a world being rapidly changed by globalization-the trend of the world economy toward becoming a more interdependent system. Time and distance, which have been under assault for 150 years, have now virtually collapsed, as reflected in three important developments:
1. The rise of the "global village" and electronic commerce.
2. The world's becoming one market instead of many national ones.
3. The rise of both megafirms and Internet-enabled minifirms worldwide.

Question 11

The city of Cincinnati, California, is an industrial town known for its production of high-quality computers. In addition, the management of an automobile manufacturing plant in Cincinnati, which employs over 2,000 employees, is considering closing and moving its operations to Mexico to save money. Discuss the positive and negative effects of the global economy on Cincinnati, California, and other communities in America.

Accepted Answer

The answer of The city of Cincinnati, California, is an...

Question 12

How are tariffs on oil different from tariffs on solar panels and washing machines?

Accepted Answer

There are two types of tariffs: One is designed simply to raise money for the government (revenue tariff). The other is designed to raise the price of imported goods to make the prices of domestic products more competitive (protective tariff).

Question 13

Over the last two years, an American clothing manufacturer has partnered with a manufacturer in China to make clothes at a cheaper cost. How is this beneficial to both countries?

Accepted Answer

A U.S. firm may form a joint venture, also known as a strategic alliance, with a foreign company to share the risks and rewards of starting a new enterprise together in a foreign country. Strategic allies are two organizations that have joined forces to realize strategic advantages that neither would have achieved by operating individually.

Question 14

The United States has utilized tariffs, import quotas, embargoes, and sanctions over the years. Explain why America has used these and give an example of each.

Accepted Answer

The answer of The United States has utilized tariffs, import...

Question 15

What is NAFTA? In your description of NAFTA include the following: which nations belong to NAFTA, its purpose, its benefits, and its issues.

Accepted Answer

The answer of What is NAFTA? In your description of...

Question 16

This question has two parts; be sure to answer both.
First, describe the five benefits for companies of expanding internationally.
Second, imagine that you are the CEO of REDO, a highly successful company that remodels and redecorates houses in the United States. The company also manufactures its own line of furniture, draperies, and home furnishings. Give an example of at least one way REDO might take advantage of each of these benefits.

Accepted Answer

The answer of This question has two parts; be sure...

Question 17

As the owner of a small business, Sally would like to move the sale of her candles from storefronts to the Internet. Why is it possible for her to so easily make that move for the success of her business?

Accepted Answer

The Internet and the World Wide Web allow almost anyone to be global, with two important results: Small companies can get started more easily and can maneuver faster.

Question 18

Simply Imagine wants to grow their company but is hindered by increasing labor costs and import quotas. Simply Imagine should consider becoming a(n)

Accepted Answer

Multinationals expand to take advantage of availability of supplies, new markets, lower labor costs, access to finance capital, or avoidance of tariffs and import quotas.

Question 19

This question has two parts; be sure to answer both.
First, contrast ethnocentric, polycentric, and geocentric managers.
Next, imagine the following situation: You work for a multinational hotel chain. The hotel, which has its corporate headquarters in the United States, has a policy of delighting and surprising its guests by making them feel extremely welcome. Corporate has a policy that the housekeepers will leave a yellow daffodil on each guest's bed while cleaning the rooms during the day. However, managers at the French and German hotels have objected to this policy. The French managers say that yellow has connotations of jealously, betrayal, weakness, and contradiction in France. In the 10th century, the French painted the doors of traitors and criminals yellow. The German managers say that yellow symbolizes jealousy in Germany. These managers would rather leave a different type of flower for their guests.
How would an ethnocentric manager respond to the individual hotel managers' requests? How would a polycentric or geocentric manager respond?

Accepted Answer

The answer of This question has two parts; be sure...

Question 20

Kyle, who owns a broom and mop factory, is considering global outsourcing. Using the definitions of global outsourcing and maquiladoras, describe the pros and cons for Kyle to consider before he makes his decision final.

Accepted Answer

The answer of Kyle, who owns a broom and mop...

Quiz 4: Global Management Managing Across Borders

Which trading bloc has the goal to reduce tariffs by 75 percent and achieve full economic integration?

This question has two parts; be sure to answer both. First, define the concept of global economy. Second, explain the three historic global changes, discussed by Rosabeth Moss Kantor of the Harvard Business School, that set the stage for globalization.

Madeline wants to be the best manager. She knows what it means to manage her staff and she knows the right way to do it. She also wants to be cautious that she does not put herself in the position that it is her way or no way. What type of manager is Madeline aspiring to be?

Discuss the purpose of each of these organizations: The World Trade Organization, World Bank, and International Monetary Fund.

As you prepare to work in a global economy, what will help you to more effectively communicate with and influence others?

There are many positive effects to globalization, but which of the following would be a negative effect?

Qatar earned the rank of first place in terms of gross domestic product because they

How are tariffs on oil different from tariffs on solar panels and washing machines?

Over the last two years, an American clothing manufacturer has partnered with a manufacturer in China to make clothes at a cheaper cost. How is this beneficial to both countries?

The United States has utilized tariffs, import quotas, embargoes, and sanctions over the years. Explain why America has used these and give an example of each.

What is NAFTA? In your description of NAFTA include the following: which nations belong to NAFTA, its purpose, its benefits, and its issues.

As the owner of a small business, Sally would like to move the sale of her candles from storefronts to the Internet. Why is it possible for her to so easily make that move for the success of her business?

Simply Imagine wants to grow their company but is hindered by increasing labor costs and import quotas. Simply Imagine should consider becoming a(n)

Kyle, who owns a broom and mop factory, is considering global outsourcing. Using the definitions of global outsourcing and maquiladoras, describe the pros and cons for Kyle to consider before he makes his decision final.